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Village of East Aurora Capital Plan 2026 6+ year plan Budgeting: The Capital Committee believes that the Village should keep budgeting for the yearly cycled capital purchases as has been the Village's practice for years. This includes the purchase of Police cars, DPW skid steers, a mini excavator, and other vehicles and equipment on the ranking list that could be added to the budget in a given year. Reserves: The Capital Committee supports the efforts of the Village Board to build reserves to purchase equipment without the need for bonding and paying out the interest. Specifically, to continue to add to the reserve for Fire apparatus, Police building improvements, and DPW Equipment and Water fund equipment. A reserve for water line replacement should be established as well, when possible. General Fund Debt: In reviewing the Debt Schedule, we do not recommend taking on new debt in the general fund unless an urgent project arises. We believe that if the funds cannot be otherwise saved or obtained, the Village should work toward planning a road project in 2033 for Bond Anticipation Notes (BANs) starting in 2034, followed by bonding in 2036. At this moment, the ranking spreadsheet has the projects we believe will be needed in priority order. Water Fund Debt: The Capital Committee believes that we should save for or plan projects in 2026/2027. The Village has a water improvement phased plan being developed by the Village engineers. A Ban could be drawn up in 2027 for a project. The bonding can take place in 2029/2030 to help keep the debt expense level and not have jumps in billing. The projects are numbered by priority on the ranking spreadsheet. The Village will likely skip 1-3 until the road projects can be done at the same time in 2034. The Engineers' plan may change priority depending on the outcome. Project Ranking: All Projects and assets requested by the Department Heads and Village Board, which were ready at the time this plan was put together, are listed and ranked. A conscious decision to have more projects than can be accomplished in six years is on the list, so that this document can be easily reviewed yearly and updated without possibly losing track of a project. Additionally, this list will be used when looking into grants or if the Village ever needs to spend excess fund balance. Fund Balance: The Village needs to follow the Fund Balance Policy if there is ever an excess fund balance. The Capital Committee feels that the ranked projects should be considered for how these funds are spent. The funds could also add to the reserves for these projects.. The Capital Committee is aware that the Village may need to skip ranking for a project or asset that the Village can fund completely in this event. The Capital Committee is happy to see that the process of using the capital plan to spend down excess fund balance is working to help the village clearly reach planned goals. Grants: The Capital Committee is aware that the Village is continually looking into grant opportunities. This is one reason the Capital Committee’s ranking list includes projects that we do not expect will get done in the next 6 years. The Capital Committee is also aware that the order in which the projects might be completed could change because of grant funding, which may become available for a needed project that may be lower on the list at that time.